Gonzalez Hugo E 4

What Happened

• Hugo E. Gonzalez, President of Powersports & Housing and COO of Patrick Industries (PATK), received equity awards and surrendered shares to satisfy tax withholding related to vested performance shares. On 2026-01-27 he was granted 1,847 time-based shares and 7,389 performance-based shares (total acquired: 9,236 shares). On the same date he returned 1,947 shares to the company to cover taxes (sale value reported $252,974) and an adjustment shows disposition of 1,350 shares (no cash reported). Net, the filings show a +5,939 share increase from these events (9,236 awarded minus 3,297 surrendered/adjusted).

Key Details

• Transaction date: 2026-01-27; filing date: 2026-01-29 (filed promptly).
• Reported dispositions: 1,947 shares withheld for taxes at $129.93/share for $252,974; 1,350 shares disposed at $0.00 (adjustment).
• Reported awards: 1,847 shares (time-based) and 7,389 shares (performance-based) granted at $0.00.
• Shares owned after the transactions: not specified in the provided data.
• Footnotes:
  • F1: Adjustment to shares entitled upon vesting of a Jan 2023 performance grant.
  • F2: Shares returned to satisfy tax withholding for the Jan 2023 performance grant that vested after three years.
  • F3: Annual management time-based grant awarded Jan 2026 vesting Jan 2029.
  • F4: Performance-based shares vest after three years upon achievement of company objectives.
• No 10b5-1 plan or late filing flags noted in this filing.

Context

• The 1,947-share return was a standard tax-withholding (sell-to-cover) related to vested performance stock, not an open-market sale for investment reasons. The larger award includes both immediate vested shares (performance that vested) and newly granted awards (time- and performance-based) that vest in the future. These types of filings routinely reflect compensation vesting and associated tax withholding rather than discretionary insider selling.